good credit pwnz m3

[cbcbd]

i went to the dealership seeing if i wanted to buy a new car, they told me what my credit score was, no need to pay

Lol, it'd be good to know the score before you go shopping, so you have time to fix it

Note: Everytime you apply for a CC your credit rating drops 5 points. So think about it next time you feel like getting a free gift.

Why is that? Is it because they have to query your credit score when you apply? Does it matter if you don't activate and never use the account?
I only got a few free gifts, don't do that anymore.

yeah, i havent signed up for a new card in years. Also, i dont close accounts, that hurts your score as well.

I never heard that closing accounts would hurt your score. Do you know why it might? I would see it hurting your score if you usually keep a 25% balance in your revolving credit accounts, then you close one account, shift your total credit limit down a lot, making your regular spending exceed 25% of your total credit limit (keeping a balance higher than 25% of your total credit limit (limits of all CCs added together) hurts your score)

last time i checked my fico score in december of 2003, it was 805.

Damn!! That's real good, keep it up.

 

[Stormtrooper77]

Why is that? Is it because they have to query your credit score when you apply? Does it matter if you don't activate and never use the account?
I only got a few free gifts, don't do that anymore.

Of course if you apply with false information, there is no way for them to do a credit check. But if you really apply, then you are authorizing them to do the credit check. If you receive the card under your name and if the card is readily available for use (once activated), then chances are a check has been done.

 

[changedman]

Slowly close out unneeded or unused credit accounts. Most experts recommend carrying between two and four major cards. But, be cautious when canceling because closing accounts can negatively impact your credit score, commonly called a FICO score. FICO considers the ratio of total debts to total available credit. A good rule of thumb is to keep your revolving debt to 50 percent of your available credit.


http://www.bankrate.com/brm/news/credit-management/improve-credit.asp

 

[jred321]

or a house

dude, you're gonna need a lot of credit cards to buy a whole house

 

[changedman]

LOL, buying a house not on CC< but using my good credit to get a loan.

 

[slug420]

im 23....dont have a credit card yet....(sad2)

 

[cbcbd]

Slowly close out unneeded or unused credit accounts. Most experts recommend carrying between two and four major cards. But, be cautious when canceling because closing accounts can negatively impact your credit score, commonly called a FICO score. FICO considers the ratio of total debts to total available credit. A good rule of thumb is to keep your revolving debt to 50 percent of your available credit.


http://www.bankrate.com/brm/news/credit-management/improve-credit.asp

Yep, that's what I thought. So it's ok to cancel accounts, but you just have to make sure that your ratio after you close the accounts is kept at 50% usage of your credit limit.

 

[cbcbd]

im 23....dont have a credit card yet....(sad2)

Get movin', honkey!! (protest)

 

[MSPinVA]

805????? JESUS CHRIST dude. That is wicked. But unfortunately, having great credit is only one part of buying a house. You gotta have collateral..... a BIG down payment..... a good paying, steady job..... etc.

 

[mp5jeff]

in florida for 1st time homeowners you don't need to put a downpayment =) not sure about other states...

 

[changedman]

805????? JESUS CHRIST dude. That is wicked. But unfortunately, having great credit is only one part of buying a house. You gotta have collateral..... a BIG down payment..... a good paying, steady job..... etc.

it pays to handle credit correctly. I think thats my biggest issue- is how i handle my money or payments, etc.

 

[osudewd]

How do you obtain a credit score?

 

[changedman]

myfico.com

 

[jred321]

go to car dealership, pretend to buy car, have them do credit check, ask them what you scored